BetMGM secures sports betting license for New York market
Entain and MGM Resorts International joint-venture, BetMGM has become the fifth mobile sportsbook to go live in the newly regulated New York market.
Having only launched in January, New York state has seemingly eclipsed all expectations and is on course to surpass $1 billion in wagering for its first month after witnessing an overwhelming response from residents.
BetMGM joins rivals FanDuel, DraftKings, Caesars Sportsbook and Rush Street Interactive in securing a license and as a result, is in a prime position to continue its impressive standing in the US sports betting market.
Leader in US Sports Betting
Since being established in 2018, BetMGM has swiftly become a major player in the US and was the top sportsbook for Michigan for 2021, which only launched last January.
Following the launch, Adam Greenblatt, BetMGM’s chief executive, said: “With today’s monumental news, we’ll now be able to fully activate our relationships with MGM Resorts’ Empire City Casino and Madison Square Garden.
“We look forward to offering customers in New York unique experiences that they can’t access on any other platform.
“A huge thank you to the New York Gaming Commission as well as to our entire BetMGM team who have worked tirelessly to bring this to fruition.”
New York state is predicted to become the largest state in the union for sports betting, in terms of numbers and revenues in the first month could well justify this. With several different sports franchises in the state available for people to bet on, encompassing basketball, baseball, ice hockey, American football and soccer, there is plenty of choices available, across a range of different markets.
BetMGM now in 14 states
Following the approved entry into the New York market, it makes it the 14th state that BetMGM operates in, including New Jersey, Pennsylvania, Colorado and a number of others and as a result, the brand has become well-known across the country.
With strong marketing, including several partnerships in the media and various franchises, BetMGM is well-positioned to challenge the likes of DraftKings (who recently had a $22 billion bid turned down for Entain) and with the right strategy, can become an industry leader.